2017 (5) TMI 724

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....sues are common. In both the appeals, assessee challenged the orders of authorities below in framing reassessment orders without complying with the mandatory conditions of section 147 to 151 and more so directions of the Tribunal have not been complied with. The assessee also challenged the additions of Rs. Assessee by : Dr. Rakesh Gupta & Shri Somil Aggarwal, Advocate Department by: Ms.Bedobani, Sr. DR Date of Hearing 02/05/2017 Date of pronouncement 08 /05/2017 12,50,000/- and Rs. 6 lacs on account of payment made towards purchase of property. 3.1 Ld. Counsel for assessee submitted earlier assessment order was set aside and matter is restored to Assessing Officer by ITAT, in Deptt. appeals No. 1838/10 for assessment. Year 2003-04, ITA ....

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....e case was fixed for hearing on 31.12.2007, and thereafter, the AO completed the assessment on the very same day i.e. 31.12.2007. From the perusal of the assessment order, its is, thus clear that the assessment has been completed within three days after the receiving the assessee's reply on 27.12.2007. The assessee's objections to the reasons recorded has not been considered and decided by the AO before he makes the assessment u1s. 147 of the Act. We, therefore. find that the spirit of the judgment of Hon'ble Supreme Court in the case of GKW Driveshaft Limited reported in 2511TR, 19 (SC) has not been compiled with. At this stage, the ld. counsel for the assessee has submitted that this irregularity can be cured if the matter is ....

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....at page 253. The relevant paragraph of the decision is reproduced hereinbelow. "6. The court is of the considered view that after having correctly understood the decision of the Supreme court in G.K.N. riveshafts (India) Ltd. (supra) as mandatorily requiring the AD to comply with the procedure laid down therein and to dispose of the objections to the reopening order with a speaking order, the CIT(A) committed an error in not quashing the reopening order and the consequent assessment. " 8. In the circumstances and facts of the case, the identical facts are there In the present case and the AO has not disposed of the objections of the reasons raised by the assessee as mentioned by the ITA T in the first round, and therefore, necessarily....